British builder Fairline Boats has potential suitors - Trade Only Today

British builder Fairline Boats has potential suitors

Several companies are discussing purchasing British builder Fairline Boats.
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Several companies are discussing purchasing British builder Fairline Boats, which last month entered into administration, which is equivalent to Chapter 11 restructuring in the United States.

A spokesman for administrators FRP Advisory declined to give details about potential buyers or the progress of any talks but said it could be three months before a deal is concluded, according to a story in the Peterborough Telegraph newspaper.

Fairline went into administration Dec. 2, two months after being bought by equity firm Wessex Bristol for a deferred sum of £2 million, nearly $3 million (U.S.). Three weeks before Christmas, 380 jobs were eliminated, with 69 staff kept to service existing orders.

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